To: Reseller who wrote (6465 ) 1/22/1999 4:56:00 AM From: Iraklis Read Replies (1) | Respond to of 10072
Third Market Trading? I'm confused by what is meant by the "third market" in conjunction with the few shares that traded yesterday after the market closed. All other after market trades are ALWAYS referred to as "after market" trades and not "third market" trades. Does anybody know what this third market is? Also, when stocks trade in the "after market" and the price moves in either direction, the "Last Price" for the stock is never changed to reflect the after market "last price" At least, I can never recall this happening in the past with other stocks (all nasdaq) which I watch VERY closely. Anybody else ever recall seeing this happen? Could it be that somebody (or a group) has gone to extreme measures to lower yesterday's closing price? Perhaps a plan existed that if earnings were good, entity X would sell to entity Y in the third market to lower the TRUE closing price of IOM. Note that if X and Y are the same entity (or have a mutual understanding), then all sells are a push regardless of the selling price. The only change is to the "Last Price" of IOM. In which case - this is a very BULLISH sign. On the other hand, these few "third market" trades could be legitimate panic selling due to the confusing PR titles that bombarded the news wires yesterday. Do we know if the stock trading was halted because of 1) better than expected earnings, or 2) due to the management changes. I would guess it was the later. I'm long 30 IOMBB and will have my eye glued to the open. I have to admit - I fell real stupid! I bought these calls yesterday with the understanding that if the earnings are good, then I'll turn a profit. I never imagined good profits combined with the management changes! Oh well - after having read all the messages, PRs, and other info, I still think I'm in a good position. Just would have been sweeter without the management changes! good luck - Iraklis